Scribd
Upload
12 views4 pages

Market

The Economics Module on Markets aims to teach students about market functioning, demand and supply mechanisms, and the efficiency of various market structures over a duration of 4-6 weeks. Key learning outcomes include the ability to analyze market conditions, identify market failures, and evaluate government interventions. The module includes practical activities such as graphing exercises, debates, and case studies to reinforce theoretical concepts.

Uploaded by

cecil45289
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
12 views4 pages

Market

The Economics Module on Markets aims to teach students about market functioning, demand and supply mechanisms, and the efficiency of various market structures over a duration of 4-6 weeks. Key learning outcomes include the ability to analyze market conditions, identify market failures, and evaluate government interventions. The module includes practical activities such as graphing exercises, debates, and case studies to reinforce theoretical concepts.

Uploaded by

cecil45289
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 4

📘

Economics Module: Understanding Markets

🏛 Module Title:

Markets and How They Work

Module Objectives:

By the end of this module, students will:

• Understand the functioning of markets in allocating scarce resources.


• Analyze demand and supply mechanisms.
• Evaluate the efficiency of different market structures.
• Identify causes and consequences of market failure.
• Examine the role of government in correcting market failures.

Module Duration:

4–6 weeks, with 2–3 contact hours per week

(Total: ~12–18 hours)

🧠
Learning Outcomes (LOs):

Students will be able to:

1. Explain how markets allocate resources through demand and supply.


2. Draw and interpret demand and supply diagrams.
3. Analyze the effects of changes in market conditions on equilibrium.
4. Compare different market structures (perfect competition, monopoly, etc.).
5. Identify market failures and assess government responses.

Content Outline:

Week 1: Introduction to Markets

• What is a market? (Definition and examples)


• Types of markets: goods, services, labor, capital
• Role of prices in resource allocation

Week 2: Demand and Supply


• Law of demand and law of supply
• Determinants (non-price factors) of demand and supply
• Movements along vs shifts of curves
• Market equilibrium and disequilibrium

Activities:

• Graphing exercises on demand/supply shifts


• Case study: fuel price changes and their effects
Week 3: Elasticity
• Price elasticity of demand (PED)
• Price elasticity of supply (PES)
• Income elasticity and cross-price elasticity
• Applications of elasticity in real life (e.g., taxation, pricing strategy)

Activities:

• Calculate and interpret elasticity coefficients


• Group discussion: why luxury goods have higher elasticity

Week 4: Market Structures


• Characteristics of:
o Perfect competition
o Monopoly
o Oligopoly
o Monopolistic competition
• Efficiency and pricing in each structure

Activities:

• Debate: Monopoly – good or bad?


• Real-world research project on a local monopoly or oligopoly (e.g.,
telecom industry)

Week 5: Market Failure


• What is market failure?
• Public goods and the free rider problem
• Externalities (positive and negative)
• Information failure and asymmetric information

Case Examples:
• Pollution and environmental issues (negative externality)
• Education and vaccinations (positive externality)

Week 6: Government Intervention

• Taxes and subsidies


• Price ceilings and floors (e.g., minimum wage, rent control)
• Regulation and competition policy
• Government failure (when intervention worsens outcomes)

Activities:

• Evaluate a real-life policy: e.g., sugar tax or fuel subsidy


• Diagram-based questions on government interventions

You might also like